Anyone who accompanies German insurers on their way to (still distant) climate neutrality gets an impression of the seriousness of their endeavors.

The Gothaer Group, for example, has already won the ranking and has integrated sustainability as a goal into its new strategy.

So it is not surprising that it is also the first insurer to undergo the Assekurata agency's new sustainability rating.

Philipp Krohn

Editor in business, responsible for “People and Business”.

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We are intrinsically motivated, ”says Harald Epple, the board member responsible for sustainability. The Cologne company recognized that it was five to twelve. “We have to achieve a lot in the twenties to stop climate change.” This also includes disclosing all available figures to the rating agency.

“Our test criteria are based on regulatory requirements as well as national and international standards,” says Oliver Bentz, analyst and sustainability officer at Assekurata. Gothaer has the third-best rating level A + (good). The rating specialists took a closer look at four criteria: What does the strategic framework for sustainability look like? How does a company align itself with ESG indicators (environmental, social, corporate governance)? How are insurance policies designed with regard to climate risks? And how is the investment portfolio steered towards sustainability?

"There is still no generally accepted metric on the market to be able to objectively assess sustainability," says Michael Kurtenbach, board member responsible for life insurance at Gothaer. For his company, the focus was on being able to draw a zero line through a rating, which it could use for further targets from 2022 onwards.

As early as January 1st, managers at the insurer will feel in their own wallets whether they are achieving their goals.

“From 2022, part of the variable remuneration for executives and board members will also be assigned to sustainability.

So it costs us money if we don't achieve our goals, ”explains Kurtenbach.

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For the rating, Assekurata not only uses sustainability reports, but also internal documents.

There was still a lack of widely recognized methods of measuring sustainability, said Epple.

"With the Assekurata rating, Gothaer is one of the first to start with it," he announced.